Tuesday, September 1, 2009

Credit card debt almost gone

If you've been following me for a while, you know I'm a big advocate of getting rid of any and all credit card debt. While it continues to be the bane of most Americans' financial existence, it's particularly crippling to young people who are just starting out in their careers and families.

So as to lead by example, I've been keeping tabs -- publicly, on how my quest to get rid of more than $8,000 in credit card debt has gone since last year and today I'm happy to report that the magic number is down to a mere $679.45!

No secrets, no tricks, no gimmicks or TV commercials, just common sense budgeting and consumer discipline is all it took. And even though a trip to Florida (for business) and school shopping for my son were a setback in August (I was supposed to pay the whole thing off last month but wound up adding more than $700 to the balance); I used the same discipline to quickly pay every penny off and keep the balance right where it is. $679.45.

Can't wait till the first week of Oct. to blog/tweet that zero balance.

1 comment:

Mia6998 said...

Congrats...can I be like you some day? No seriously...I think I'm going to try your plan starting in January 2010 of putting one large amount (like $800 a month) to one credit card to get it paid off in a year (or less).